Massachusetts Struggling to Meet Monthly Tax Projections 

moneyBOSTON (AP) — Massachusetts is continuing to struggle to meet monthly tax projections.

In August, the state collected about $1.74 billion in taxes.

That’s $9 million more than August of last year, but $42 million — or 2.4 percent — below the estimate for the month.

That means that for the first two months of the 2017 fiscal year — July and August — total revenues are 1.3 percent greater than at the same point last year, but $36 million below benchmark.

Revenue Commissioner Michael Heffernan said Tuesday that the tax collections reflect a continuation of what he called “adverse trends” from recent months, including lower-than-expected growth in sales and income-related payments.

Heffernan said that while most independent researchers remain generally positive about the Massachusetts economy, his office will closely monitor revenue collections.

About NewsCenter

The award-winning NewsCenter provides the Cape Cod community with a constant, credible source for local news. We are on the job seven days a week.

Speak Your Mind

737 West Main Street
Hyannis, MA 02601
Contact Us | Advertise Terms of Use 
Employment and EEO | Privacy